Chinese conglomerate CEFC will buy a 14.16% stake in Rosneft for $9.1 billion from a consortium of Glencore and the Qatar Investment Authority. The deal will strengthen the energy partnership between Moscow and Beijing, amid increasing tensions with the United States.

The fresh round of US sanctions against Russia has created problems for Italian bank Intesa Sanpolo in its efforts to put together a syndicated loan for oil trader Glencore and Qatar’s sovereign wealth fund.

A breakthrough in international strategy and the election of ExxonMobil CEO Tillerson as U.S. Secretary of State could stand to benefit Rosneft and Russia significantly.
Valentina Kretzschmar, a Wood Mackenzie analyst, sees the recent privatization deal in which Glencore and the Qatar Investment authority bought a 19.5% stake in the Russian oil major as «a tectonic shift in the way the country is perceived by investors».

White House Press Secretary Josh Earnest says the government is taking a closer look at an asset deal involving Russian oil company Rosneft. An $11 billion deal with a Russian oil producer, commodity trader Glencore and a Qatari sovereign fund may be under sanctions review, the White House said.

On 21 December 2012 Rosneft agreed heads of terms for long-term crude supply contracts with Glencore International plc (‘Glencore’) and Vitol, two of the world’s leading trading companies. Under the heads of terms, Rosneft plans to sign contracts with a prepayment for a duration of 5 years to supply up to 67 mln tonnes of crude in total. The supplies are expected to commence in 2013.